Funding arb · Price arb /

CRCL

RWAall CRCL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0056%/8h= −6.1% APRpaid last 24h −0.035%

Price spread now: Polymarket Perps against Binance−0.001%46s7-day average −0.100% · you buy dearer than you sell

Net, funding: paid 7d − costs−$44as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$280.277% of the position

Long on Binance Short on Polymarket Perps

What this pair did over the last

the charts below follow

Funding, last 7 days−0.165%−$17 on $10k

Price spread, last 7 days−0.025%−$3 · spread now −0.001%, 7d avg −0.100%

Together, before fees−0.190%−$19 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Polymarket Perps is 0.099% dearer against Binance than usual: you sell high and buy low (spread −0.001% now, against its 7-day average of −0.100%): +$10 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 5.9 days. The two prices were read 46 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance CRCLUSDT	91.210	0.0209	pay 0.0209% / 8h	9m 41s	$104.7M	$389.4M	50x
Short	Polymarket Perps CRCL-USD	91.209	0.0154	get 0.0019% / 1h	9m 41s	$377K	$1.3M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Polymarket Perps against Binance. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee BinancebpFee Polymarket PerpsbpOrdersPrice spread, now −0.001%Rate

Funding earned: −$11.72
Price spread: −0.001% → −0.100%: $9.85
Slippage, 4 orders: −$9.75
Fee Binance: 5 bp × 2 orders: −$10
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Net: −$29.62
Costs to cover: 0.277%
Break-even: never at this rate

Slippage from Binance: live order book, 4 min ago; Polymarket Perps: live order book, 3 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again

Leg	Half-spread	$10k	$100k	$1M	$5M
Buy Binance live order book, 4 min ago	0.55 bp	6.8 bp −$7	11.3 bp −$113	30.9 bp −$3,088	doesn't fit
Sell Polymarket Perps live order book, 3 min ago	0.55 bp	6.0 bp −$6	6.4 bp −$64	9.2 bp −$917	doesn't fit

CRCL on 34 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget CRCLUSDT	−0.0354%	8h	91.290	+0.088%	$17.4M	$36.6M	25x	as long as short
Vest CRCL-USD-PERP	−0.0080%	1h	90.940	−0.296%	—	$31K	25x	as long as short
Gate CRCL_USDT	0.0000%	8h	91.250	+0.044%	$7.8M	$28.0M	50x	as long as short
Phemex CRCLUSDT	0.0000%	4h	91.240	+0.033%	$1.0M	$48K	10x	as long as short
Lighter RH CRCL	+0.0032%	1h	91.225	+0.016%	$982K	$2.6M	10x	as long as short
Aftermath Perps CRCLUSD	+0.0037%	1h	91.206	−0.004%	$2K	$29K	5x	as long as short
Arcus CRCL-USD	+0.0040%	1h	91.200	−0.011%	$95K	$296K	10x	as long as short
SoDEX CRCL-USD	+0.0050%	1h	91.210	0.000%	$46K	$3K	10x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	91.150	−0.066%	$1.1M	$4.8M	10x	as long as short
Bybit CRCLUSDT	+0.0060%	8h	91.240	+0.033%	$14.8M	$26.5M	50x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
QFEX CRCL-USD	+0.0071%	1h	91.220	+0.011%	$1.3M	$1.7M	10x	as long as short
Coinbase International CRCL-PERP-INTX	+0.0088%	1h	91.070	−0.153%	$871K	$500K	10x	as long as short
tradeXYZ xyz:CRCL	+0.0090%	1h	91.139	−0.078%	$67.2M	$44.3M	10x	as long as short
Pacifica CRCL	+0.0100%	1h	91.190	−0.022%	$134K	$158K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	91.210	0.000%	$2.7M	$1.7M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	91.230	+0.022%	$67K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	91.230	+0.022%	$910	$1K	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	91.242	+0.035%	$4	—	10x	as long as short
Variational Omni CRCL	+0.0128%	8h	91.194	−0.018%	$2.4M	$3.3M	—	as long as short
Polymarket Perps CRCL-USDshort	+0.0154%	1h	91.209	−0.001%	$377K	$1.3M	10x
Paradex CRCL-USD-PERP	+0.0158%	8h	91.193	−0.019%	$419	$905	5x	as long as short
Aster CRCLUSDT	+0.0193%	8h	91.231	+0.023%	$1.0M	$5.0M	20x	as long as short
Extended CRCL_24_5-USD	+0.0208%	1h	91.188	−0.024%	$1.0M	$5.0M	10x	as long as short
Binance CRCLUSDTlong	+0.0209%	8h	91.210	long leg	$104.7M	$389.4M	50x
Phoenix CRCL	+0.0227%	1h	91.164	−0.050%	$27K	$74K	10x	as long as short
Lighter CRCL	+0.0248%	1h	91.221	+0.012%	$2.9M	$2.4M	10x	as long as short
GRVT CRCL_USDT_Perp	+0.0251%	8h	91.335	+0.137%	$70K	$1.1M	10x	as long as short
OKX CRCL-USDT-SWAP	+0.0284%	8h	91.230	+0.022%	$22.3M	$61.6M	50x	as long as short
BloFin CRCL-USDT	+0.0327%	8h	91.210	0.000%	$1.1M	$1.7M	20x	as long as short
Nado CRCL-PERP	+0.0433%	1h	91.122	−0.097%	$133K	$109K	3x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	91.740	+0.581%	$5K	$19K	30x	as long as short
RISEx CRCL/USDC	+0.0466%	1h	91.227	+0.019%	$412K	$269K	10x	as long as short
edgeX CRCLUSDC	+0.0610%	4h	91.186	−0.027%	$52K	$271K	10x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.0738%	1h	91.230	+0.022%	$5K	$769K	10x	as long as short